New York, New York, October 20, 2003...Colgate-Palmolive Company (NYSE:CL) announced today its agreement to sell its European laundry detergent brands, marketed in France, Italy and Scandinavia, to The Procter & Gamble Company. The sale is subject to approval by regulatory authorities in France.

Reuben Mark, Colgate's Chairman and CEO said, "The sale of these detergent brands is consistent with Colgate's strategy to de-emphasize detergents while investing in our high margin, fast growing oral and personal care businesses."

It is expected that the one-time gain resulting from the transaction will be offset by one-time charges associated with divesting these detergent operations and associated actions.

Mr. Mark concluded, "This sale will increase our European gross margin and allow even greater focus on our strong and strategically vital oral and personal care businesses."

About Colgate-Palmolive: Colgate-Palmolive is a leading global consumer products company, tightly focused on Oral Care, Personal Care, Household Surface Care, Fabric Care and Pet Nutrition. Colgate sells its products in over 200 countries and territories around the world under such internationally recognized brand names as Colgate, Palmolive, Mennen, Softsoap, Irish Spring, Protex, Sorriso, Kolynos, Ajax, Axion, Soupline, Suavitel and Fab, as well as Hill's Science Diet and Hill's Prescription Diet pet foods. For more information about Colgate's global business, visit the Company's website at www.colgate.com.

This press release may contain forward-looking statements. Actual events or results may differ materially from those statements. Investors should consult the Company's filings with the Securities and Exchange Commission (including the information set forth under the caption "Cautionary Statement on Forward-Looking Statements" in the Company's Form 10-K for the year ended December 31, 2002) for information about factors that could cause such differences. Copies of these filings may be obtained upon request from the Company's Investor Relations Department or the Company's website on the internet at www.colgate.com.